Individual Voluntary Arrangements

Introduction to IVAs

An Individual Voluntary Arrangement (IVA) is a legally binding agreement between a debtor and their creditors in the UK. It enables individuals struggling with unsecured debts to repay a portion of what they owe, usually over five or six years, with any remaining balance often written off upon successful completion. By consolidating multiple debts into a single, formal repayment plan, an IVA can offer a sense of order and relief for those under significant financial pressure. However, it’s vital to understand its structure, obligations, and implications before deciding whether it is the right path.

IVAs were introduced under the Insolvency Act 1986 as a structured alternative to bankruptcy, aiming to balance the debtor’s need for relief with creditors’ right to receive repayment. Where bankruptcy can involve loss of assets and stricter legal consequences, an IVA often allows you to retain more control—especially over your home—provided you adhere to specific terms set out when the arrangement is approved.

Although IVAs can be a lifeline, they demand consistent monthly payments and adherence to strict rules. Once approved, you gain protection from creditor actions like bailiff visits or court proceedings, and the interest on your included debts is usually frozen. Nonetheless, if you fail to maintain the terms, the arrangement can collapse, leaving you vulnerable to renewed collection efforts.

To help you navigate this option effectively, this guide will cover everything from the fundamental mechanics of an IVA to eligibility requirements, fees, legal protections, and life after the arrangement ends. While an IVA can be an excellent tool for some, it isn’t suited to everyone. The sections ahead explore every aspect in detail so you can make the best decision for your circumstances.

By the end of this guide, you’ll understand how an IVA compares to other debt solutions, what responsibilities you’ll undertake, and how best to work with an Insolvency Practitioner (IP) to ensure a successful outcome. Each section addresses a different facet of IVAs, from initial basics to dealing with potential pitfalls like missed payments.

The IVA journey requires commitment and transparency. It can be emotionally challenging to confront your debts, but knowing you have a legally recognised plan in place can bring substantial peace of mind. As you read through the following sections, keep in mind that each step—from application to completion—has been designed to give you structured financial stability. If it aligns with your goals and you’re prepared to adhere to the rules, an IVA could be the stepping stone to a fresh financial start.

Understanding the basics

Before delving into the application process or fees involved, it’s crucial to appreciate the foundational elements of an IVA. An IVA is primarily aimed at individuals who have unsecured debts they cannot manage via normal repayment schedules, yet want to avoid the more severe consequences of bankruptcy. In essence, an IVA is a contract: you agree to make regular payments over a fixed period, and your creditors agree not to pursue further legal action.

What debts are included in an IVA?

Most unsecured debts can be covered by an IVA, including credit cards, personal loans, and store cards. However, some debts either cannot be included or are treated differently:

• Secured debts (like mortgages or car finance) remain outside the IVA. You must keep up these payments separately.

• Student loans are excluded by law and cannot be added.

• Court fines and child maintenance obligations also fall outside an IVA’s scope.

By wrapping eligible debts into one monthly payment, an IVA can simplify your outgoings and reduce the stress of juggling multiple bills.

Who usually considers an IVA?

People from various backgrounds use IVAs. Common scenarios include:

• Income stability: You need enough reliable income to sustain monthly repayments over the IVA’s term.

• Significant unsecured debts: Often in the range of £6,000 and above.

• Desire to avoid bankruptcy: An IVA can protect certain assets and has fewer stigma-related issues compared to bankruptcy.

The role of the Insolvency Act 1986

IVAs operate under the Insolvency Act 1986, which introduced this debt solution to strike a fair balance between debtors and creditors. The Act sets out how proposals are made, how creditors vote, and what happens if circumstances change. Because it is legally binding, an approved IVA gives you formal protection from creditor harassment and additional charges on your included debts.

Weighing up the time commitment

Most IVAs last around five years, sometimes extending to six if you’re a homeowner with equity to address. For many, that’s a considerable duration to follow a strict budget. However, the structured nature of an IVA can offer relief and clarity—your debts are tackled systematically, and you know exactly when you’ll be free from them, provided you meet all the conditions.

Potential impact on your everyday life

While under an IVA, your spending must align with the budget agreed at the outset. You’ll also undergo annual reviews, possibly adjusting payments if your income rises or falls. Although this level of scrutiny can feel restrictive, the benefit is a clearer financial roadmap, reduced stress from creditor contact, and the possibility of a substantial debt write-off after successful completion.

Understanding these basics lays the groundwork for the more detailed aspects to come. You’ll soon see how IVAs are structured, who decides whether your proposal is accepted, and why professional guidance from an Insolvency Practitioner is crucial. With this foundational grasp, let’s move on to how an IVA works in practice—examining the specific steps that transform an initial idea into a legally binding agreement.

How an IVA works

Once you know the fundamental principles behind an IVA, it’s time to explore the step-by-step process. An IVA is more than just a single document; it’s a legally binding framework that unfolds in distinct stages. Each stage requires careful coordination, primarily involving you, your Insolvency Practitioner (IP), and your creditors.

From assessment to acceptance

In the early phase, you’ll consult with an IP to determine whether an IVA is appropriate. If it seems viable, your IP will gather detailed information about your finances—covering debts, assets, income, and essential expenses. This data underpins the creation of a proposed monthly repayment plan that your creditors will vote on.

• Documentation: Expect to provide payslips, bank statements, creditor statements, and details of any significant assets.

• Budget planning: You and your IP draft a budget to identify your disposable income—the amount you can realistically commit to the IVA each month.

• Creditor voting: For the IVA to be approved, at least 75% (by the value of debts that vote) must give their consent.

Legal binding and ongoing supervision

If approved, the IVA becomes a contract that binds both you and the creditors included in the agreement. You’ll start making your monthly repayments directly to your IP, who then distributes the funds to each creditor. The IP also performs annual reviews to ensure your payment remains fair given any changes in income or outgoings.

What to expect throughout the arrangement

• Frozen interest: In most cases, interest and late payment charges on the included debts cease.

• Creditor harassment stops: With an active IVA, creditors should no longer contact you directly about the debts included.

• Restricted credit: You typically can’t take out further credit above £500 without notifying your IP.

The typical IVA lifecycle

This structured timeline helps you understand the journey from the moment you decide an IVA might be right, through to the day you complete your obligations. At the final stage, you’ll receive a Completion Certificate, confirming your successful adherence to the agreement—an important document that helps to prove to lenders or other parties that you’ve resolved the debts in the IVA.

If the proposal is rejected by your creditors, you can sometimes modify it to address their concerns and resubmit. Alternatively, you may need to consider other solutions like a Debt Management Plan (DMP), Debt Relief Order (DRO), or even bankruptcy, depending on your circumstances.

Overall, an IVA functions as a structured umbrella under which you systematically settle your unsecured debts. The oversight of a licensed professional offers both protection and discipline, aiming to bring your finances back under control. In the next section, we’ll examine whether you meet the typical criteria for an IVA and what creditors and IPs look for when deciding if this route is appropriate.

Eligibility criteria

While an IVA can be a powerful solution for debt, it isn’t open to everyone. Certain financial and personal conditions generally need to be met before creditors and an IP agree to enter into this legally binding arrangement. Understanding these criteria can save time and frustration, ensuring you’re on the right path from the start.

Debt and income considerations

• Unsecured debt level: Although there’s no official legal minimum, IVAs typically involve unsecured debts of around £6,000 or more.

• Disposable income: You must prove you can consistently contribute a realistic monthly amount after essential living costs. If your income is too unstable or low, maintaining an IVA can be difficult.

• Multiple creditors: While you can propose an IVA with just one creditor, the process is usually more beneficial if you have multiple creditors to consolidate.

Location and residency

IVAs are applicable in England, Wales, and Northern Ireland. Scotland has its own solutions—like Protected Trust Deeds and the Debt Arrangement Scheme—which have different criteria and processes. If you’ve recently moved, you may need to prove your residence status.

Credit history and past arrangements

Your credit history itself isn’t a direct barrier to an IVA (many applicants already have adverse credit). However, your track record in handling debt and any previous insolvency actions might influence how creditors view your proposal. If you have attempted an IVA before and failed, creditors might be more cautious.

Special circumstances

• Homeownership: If you own a property with equity, creditors may require you to attempt to release some of that equity (usually through a remortgage) during the final year of your IVA.

• Joint debts: Where debts are in joint names, your partner remains liable even if you enter into an IVA, unless they also become part of a joint IVA or pursue a separate arrangement.

• Self-employed individuals: You may still qualify for an IVA, but you’ll need to present evidence of your business income and expenses to show that payments can be maintained.

When an IVA might not be suitable

• Very low debt: If your debts are relatively small, a Debt Relief Order (DRO) might be more appropriate, provided you meet its strict eligibility rules.

• No disposable income: Without surplus income, making regular IVA payments would be impossible.

• Priority debt issues: If you’re behind on secured debts like a mortgage, you need a strategy for these before an IVA can be realistically pursued.

Creditors and the IP aim to ensure any IVA proposed has a reasonable chance of success. If your circumstances suggest an IVA won’t be sustainable—whether due to fluctuating income or insufficient debt levels—they may steer you towards other solutions. In the next section, we’ll detail the structured steps of applying for an IVA, from initial consultation right through to the creditors’ decision.

Application process

Applying for an IVA is a multi-stage journey that ensures both you and your creditors have clarity on the financial arrangement you’re proposing. Each step is critical, as it shapes the monthly payment you commit to and the protections you’ll receive. By breaking down the process, this section offers insight into the timeline and practicalities of getting an IVA set up.

1. Initial consultation with an IP

Your first move is to speak to a licensed Insolvency Practitioner (IP) or an advisor working under an IP’s supervision. This consultation helps determine if an IVA might work for you.

• Assessment: You’ll discuss your debts, income, household expenses, and broader financial situation.

• Alternative options: If an IVA doesn’t seem suitable, the IP should direct you towards other solutions like a Debt Management Plan or bankruptcy.

2. Gathering documents

If you decide to proceed, the IP needs detailed evidence of your financial situation:

• Bank statements (usually covering the past three months)

• Payslips or benefit statements

• Information on debts (creditor names, account numbers, outstanding balances)

• Proof of essential living costs (rent/mortgage, utility bills, travel costs)

3. Drafting the IVA proposal

Using this information, the IP prepares a formal proposal detailing:

• Your total unsecured debts

• Proposed monthly contribution

• Duration of the IVA (commonly five years)

• Specific clauses (e.g., equity release if you’re a homeowner)

Creditors will read this proposal to decide if the repayment plan is acceptable.

4. Creditors’ meeting

The IP organises a ‘meeting’ (often conducted remotely) where creditors vote on whether to accept your IVA. If creditors representing at least 75% (by the value of those who vote) say yes:

• The IVA is approved: It binds all creditors included, even those who voted against it.

• Interest and charges are frozen on the included debts.

• A single payment is made each month to the IP, who distributes it to creditors.

If the proposal is rejected, you may modify it and re-submit, or you might have to consider alternative solutions.

5. Implementation

After approval, you begin making the agreed monthly payments. Your obligations include:

• Sticking to the budget set out in your IVA proposal.

• Reporting changes in income or expenses (for instance, a significant pay rise).

• Participating in annual reviews: The IP checks your finances to confirm payment amounts remain fair.

6. Variation if circumstances change

Life can be unpredictable. If your financial situation shifts significantly, your IP may arrange a ‘variation meeting’ where creditors vote again on adjusted terms. This can prevent the IVA from failing if you temporarily lose income or encounter an unexpected financial shortfall.

7. Completion or failure

If you meet all payments and conditions, you’ll receive a Completion Certificate at the end of the IVA term, and any remaining included debt is written off. Should you breach the terms—such as missing multiple payments without agreement—the IP can terminate the IVA, leaving you unprotected from creditor actions.

While these steps involve careful administration, they exist to create a transparent, legally enforceable agreement. In the next section, we’ll explore the fees associated with IVAs, explaining how they’re structured and what you can expect to pay for this service.

Fees and costs

An IVA does more than just consolidate and manage your debts; it also involves specific fees that compensate the Insolvency Practitioner (IP) for their work. These fees can seem confusing at first, so understanding their structure ensures you’re aware of how your payments are allocated and why they’re necessary.

Why fees exist

In overseeing an IVA, an IP performs tasks such as preparing the proposal, negotiating with creditors, distributing payments, and conducting annual reviews. These responsibilities require considerable expertise and regulatory compliance. The fees pay for the IP’s administrative efforts and professional obligations.

How fees are typically split

There are generally two main fees in an IVA:

1. Nominee’s fee – Covers the initial setup of the IVA, including drafting the proposal and hosting the creditors’ meeting.

2. Supervisor’s fee – Covers the IP’s ongoing supervision throughout the duration of the IVA, including collecting payments, distributing them to creditors, and conducting annual financial reviews.

Any additional costs (disbursements) may include items like insurance premiums or other specific charges directly relating to the administration of your IVA.

How fees are paid

Typically, you won’t pay fees upfront beyond your normal monthly contribution. The IP deducts their fees from the contributions before distributing the remainder to your creditors. This arrangement means you don’t usually face extra costs on top of the agreed monthly payment.

Variations in fee amounts

While there are guidelines on IVA fees, they can differ based on:

• Complexity of your debts: More creditors or contested debts can require additional work.

• Negotiations with creditors: Creditors sometimes request fee caps or changes during the initial proposal.

• Size of the IP firm: Larger firms may have higher overheads, potentially influencing their fee structure.

Impact on creditors

It’s worth noting that, because your monthly payment also covers fees, your creditors receive a portion of what remains. For this reason, creditors will scrutinise the fees to ensure they’re proportionate and fair. If they consider fees too high, they may vote against approving the IVA unless adjustments are made.

What happens if the IVA fails?

If your IVA ends prematurely—due to missed payments or other breaches—your IP will still require payment for the work they have already undertaken. This situation can leave you back at square one, with creditors free to pursue other actions. Hence, it’s essential to be realistic about whether you can maintain the monthly payments from the outset.

Fees are a necessary part of ensuring you have professional oversight and a legally compliant arrangement. While they do reduce the amount creditors ultimately receive, most creditors accept this trade-off if the IVA presents a reasonable chance of recouping a portion of the debt. Next, let’s focus on the critical relationship between you and the IP, and how working effectively together can greatly improve your IVA experience.

Working with an insolvency practitioner

Your Insolvency Practitioner (IP) acts as both a guide and a gatekeeper throughout the IVA process. This licensed professional is responsible for drafting proposals, liaising with creditors, and ensuring that all legal requirements are met. Understanding the scope of their role and maintaining clear communication can significantly enhance your IVA experience, reducing confusion and stress along the way.

Key responsibilities

1. Assess suitability: Before formally starting an IVA, the IP evaluates whether your finances truly fit this arrangement.

2. Draft and present the proposal: The IP prepares the documents that outline how you intend to repay your debts over the IVA’s term.

3. Supervise the arrangement: Once approved, the IP collects and distributes your monthly payments, reviews your situation annually, and handles any required variations.

4. Act impartially: The IP must balance your interests and those of your creditors. They can’t favour you or your creditors unfairly.

What to expect from your IP

• Professional conduct: IPs are regulated by professional bodies, so they must follow strict codes of ethics.

• Regular communication: You should receive prompt updates on your IVA’s status, including any creditor feedback or requests for information.

• Guidance on changes: If your financial circumstances shift—positively or negatively—your IP should help you navigate possible adjustments.

How you can help the process

• Be transparent: Hiding debts or changes in income can jeopardise your IVA. Full disclosure is essential.

• Respond promptly: When your IP requests documents or clarifications, provide them quickly to avoid delays.

• Keep records: Maintain copies of all letters, emails, and statements relating to your IVA.

When disputes arise

Issues sometimes occur if creditors dispute the amount owed or if they challenge your expenditure. In such instances:

• Discuss first: Speak with your IP to clarify any confusion.

• Follow complaints procedures: If necessary, each IP has a formal process for handling disputes.

• Regulatory escalation: If you’re unsatisfied with how the IP handles your complaint, you can contact their regulatory body.

Maintaining a constructive relationship with your IP is vital. They hold legal authority to manage your IVA and make crucial decisions about modifications or breaches. By working collaboratively—providing honest updates, responding promptly, and seeking clarification whenever needed—you set the stage for a smoother, more successful IVA experience. Next, we’ll look at managing monthly IVA payments, the most visible and consistent element of the entire arrangement.

Managing monthly payments

Regular, on-time payments form the backbone of any successful IVA. Meeting this commitment reassures creditors that you’re serious about repaying what you can, while also keeping you protected under the terms of the agreement. However, budgeting and maintaining discipline over several years can be challenging. This section provides strategies to help you manage your monthly payments effectively.

Setting a realistic budget

Your IP will have helped you calculate a monthly payment based on your disposable income (income minus essential expenses). Nevertheless, it’s wise to keep monitoring your budget to ensure you’re not overspending in other areas.

• Create categories: Group expenses under headings like housing, utilities, groceries, and transport.

• Prioritise essentials: Always cover your rent/mortgage, utilities, and IVA payment before considering discretionary spending.

• Identify savings opportunities: Small adjustments, like switching to cheaper service providers, can free up funds if unexpected costs arise.

Completing a table like this each month can highlight overspending or reveal if you have some leeway. If your disposable income consistently changes, inform your IP.

Adapting to financial fluctuations

• Pay rises or bonuses: You must disclose increased earnings to your IP. Your monthly IVA contribution could rise if your disposable income goes up.

• Reductions in income: If your income drops—through job loss or reduced hours—let your IP know immediately. They may suggest a payment break or variation rather than allowing the IVA to fail.

Staying disciplined

A long-term IVA can test your resolve, especially when unexpected life events occur. To maintain momentum:

• Automate payments: Schedule a direct debit or standing order so you won’t forget.

• Keep emergency savings: Even a small monthly contribution to a contingency fund can cover minor emergencies and reduce the risk of missing an IVA payment.

• Avoid new credit: Unless it’s absolutely necessary (and approved by your IP if over £500), new borrowing can jeopardise the IVA.

By creating a clear budget, monitoring your finances, and being proactive about changes, you’ll be far better equipped to stay on top of your monthly IVA commitments. Next, we’ll move on to a balanced view of the pros and cons of choosing an IVA, ensuring you have a thorough understanding of its potential benefits and drawbacks.

Pros and cons

While an IVA can offer a structured route out of debt for many people, it’s not a universal remedy. Understanding the advantages and drawbacks is crucial to deciding if this formal debt solution aligns with your circumstances. Below, we explore key points to consider before committing to an IVA.

Advantages

• Legal protection: Once approved, creditors included in the IVA cannot pursue legal action or contact you directly to demand payment. This shield brings significant peace of mind.

• Single, manageable payment: Rather than juggling multiple debts, you’ll make a single monthly payment to your IP.

• Frozen interest and charges: In most cases, interest on your unsecured debts is frozen, preventing the total amount owed from escalating further.

• Debt write-off at the end: Provided you meet all obligations, any remaining unpaid debt in the IVA is written off upon completion.

• Potential asset protection: Unlike bankruptcy, an IVA may allow you to hold on to your home and other important possessions, although equity release might be required if you have significant property equity.

Disadvantages

• Long-term commitment: Most IVAs run for five or six years, requiring a sustained level of discipline and budgeting.

• Credit impact: Your IVA remains on your credit file for six years from its start date, affecting your ability to borrow money, obtain certain services, or secure loans at competitive rates.

• Risk of failure: Missing multiple payments or breaching terms could lead to the arrangement’s termination, leaving you unprotected from creditor actions.

• Limited financial flexibility: You’ll generally need permission from your IP to take on any new credit above £500.

• Costs and fees: IVA fees cover both setup and supervision. While these are usually taken from your monthly contributions, they reduce the overall amount creditors receive, which might influence their decision to accept the proposal.

Emotional considerations

• Stress relief: The reduction in creditor contact can ease anxiety and grant a clear route to resolving debts.

• Ongoing scrutiny: Annual reviews and consistent communication with your IP can feel intrusive, requiring you to justify any changes in income or spending.

• Possible lifestyle adjustments: An IVA budget can be strict, leaving limited room for leisure or unexpected purchases.

Weighing these pros and cons is essential for any informed decision. Some individuals find the stability and structured approach of an IVA well worth the long-term commitment, whereas others might benefit from an alternative solution like a Debt Management Plan or bankruptcy if they lack the disposable income to sustain IVA payments. The next section looks at the specific legal protections and obligations that come with an IVA, highlighting exactly what rights you gain and what duties you must uphold.

Legal protections and obligations

An IVA is backed by UK insolvency legislation, which grants you legal protections once the agreement is approved—but also imposes binding responsibilities. Being aware of your rights and obligations helps you maintain a compliant arrangement and avoid pitfalls that could lead to an IVA’s failure.

Legal protections

1. Stay on legal action: Creditors included in the IVA cannot pursue court proceedings, issue County Court Judgments (CCJs), or send bailiffs to recover debts.

2. Frozen interest: Most creditors agree to freeze or significantly reduce interest and charges on the included debts for the duration of the IVA.

3. Consolidated repayments: You make one monthly payment to the IP, who allocates funds to creditors according to the agreed terms.

Obligations

1. Honest disclosure: You must be transparent about your income, expenditure, and any assets when setting up the IVA and throughout its term.

2. Consistent payments: Missing payments without your IP’s agreement can jeopardise the arrangement and potentially lead to termination.

3. Annual reviews: Each year, you typically submit updated income and expense information so your IP can verify the affordability of your payments.

4. Informing about windfalls: Significant financial gains—like inheritances or lottery wins—may need to be declared, and often some or all of the funds go towards settling your debts.

5. Restrictions on new credit: Generally, you cannot obtain credit above £500 without first seeking your IP’s permission.

Breach and termination

If you breach these obligations—by failing to make payments or hiding income, for example—your IP can issue a notice of breach. If unresolved, the IVA may fail, removing all legal protections you enjoyed. At that point, creditors can resume collection efforts, including legal actions.

Inclusion of all relevant creditors

It’s important to include every eligible creditor when setting up your IVA. Leaving out a creditor—intentionally or accidentally—can lead to complications later, as they might still pursue you for the excluded debt. Always cross-check your credit file and correspondence to ensure no debt is overlooked.

Equity release for homeowners

If you own a home with equity, you may be asked to remortgage during the later stage of the IVA to release some funds for creditors. If you cannot secure a reasonable remortgage, your IVA could extend by an additional year instead. The goal is to ensure creditors receive the maximum possible return without forcing a property sale.

Understanding the legal framework helps you navigate an IVA with confidence and clarity. You’ll know precisely what protections you have and how to avoid losing them. Next, we’ll look at practical tactics for dealing with creditors during the IVA, from addressing lingering communications to resolving any potential disputes.

Dealing with creditors

Although an approved IVA generally curtails direct creditor contact, you may still find yourself in communication with them from time to time—particularly if there are administrative questions or clarifications needed. Handling these interactions properly can prevent misunderstandings and maintain the smooth running of your arrangement.

Initial creditor responses

After an IVA is approved, most creditors adhere to the arrangement’s terms. However, you might receive residual correspondence due to automated systems not updating promptly. In such cases:

• Provide your IVA reference: Let the creditor know the IVA is in place and direct them to your IP if needed.

• Stay calm: Often, these letters or calls are a legacy of pre-IVA communication; they usually stop once the IVA status is fully updated.

Communicating via your IP

For the duration of your IVA, your IP acts as an intermediary. If you receive any demands or if a creditor attempts to add fees, notify your IP. They can clarify the agreement’s terms and remind creditors of their obligations.

Resolving disputes or errors

Occasionally, a creditor might claim you owe more than the figure stated in your IVA or insist that their debt shouldn’t have been included. If this happens:

• Gather evidence: Locate statements or correspondence showing the agreed amount.

• Escalate to your IP: Your IP can review the dispute and, if valid, hold discussions with the creditor to reconcile any discrepancies.

Post-completion contact

After you’ve successfully completed your IVA and received your Completion Certificate, some creditors—particularly those who sold your debt to a third-party collection agency—may still reach out. Simply provide them with your Completion Certificate and remind them the debt is fully settled under the IVA. If they persist, consult your IP or seek independent advice.

Taking control of communication

• Keep records: File all letters and make notes of phone calls, including the date, the name of the representative, and the content of the discussion.

• Don’t ignore contact: While you shouldn’t make separate payment arrangements with creditors that are included in the IVA, neither should you ignore letters. Pass them on to your IP to handle.

• Protect personal data: Be mindful of sharing sensitive financial details. Confirm the legitimacy of any unfamiliar party claiming to represent a creditor.

Creditors included in your IVA should, in principle, adhere to the arrangement’s terms once it’s in effect. Clear communication—primarily via your IP—can address most misunderstandings quickly. The next section looks at one of the most critical challenges: missed payments. We’ll explore what happens if you can’t make a payment on time and how to avert the potential failure of your IVA.

What happens if payments are missed

Even with the best intentions, life events like redundancy, illness, or unexpected expenses can disrupt your ability to meet IVA payments. Missing a single payment doesn’t necessarily mean your arrangement will fail, but it does require immediate action to prevent the situation from escalating.

Immediate consequences

If you miss a payment without prior arrangement:

• Notice of breach: Your IP may send you a notice indicating you’ve breached the IVA’s terms.

• Potential communication from creditors: While creditors are informed of the IVA overall, persistent missed payments may prompt some to contact your IP (or, in rare cases, you).

Steps to take if you anticipate a missed payment

1. Contact your IP: Inform them as soon as you realise you might not be able to pay on time. They could suggest a payment break or arrange a reduced payment for a short period.

2. Provide evidence: If the issue is reduced income or a temporary financial hit, show documentation such as a redundancy letter or medical certificate.

3. Discuss a variation: If your reduced circumstances are likely to continue, your IP can put a formal variation to creditors to adjust the monthly payment.

Potential outcomes

• Minor payment break: Creditors sometimes allow a short gap in payments if you can catch up later, or extend the IVA term slightly.

• Formal variation: A creditors’ meeting may be convened to vote on new terms. If agreed, your IVA adapts to reflect your changed situation.

• IVA failure: If you repeatedly miss payments or do not engage with your IP, the IVA can fail. Creditors then regain the right to pursue you for the outstanding debts, potentially leading to legal action or bankruptcy.

Preventing further issues

• Re-evaluate your budget: Look for non-essential expenses to trim if you see financial trouble ahead.

• Consider additional support: Seek advice from debt charities or financial counsellors. They may suggest temporary coping strategies or point out benefits you’re entitled to.

Missing one or two payments doesn’t have to derail your IVA, but ignoring the issue could. Prompt, honest communication with your IP is key. They have the authority to negotiate adjustments, but only if they’re fully informed. Next, we’ll explore other debt solutions that might be worth considering, either as an alternative to an IVA or if your IVA fails to meet your needs.

Alternative debt solutions

An IVA is just one of several routes available to individuals seeking relief from unaffordable debt. It’s important to explore all your options, as another approach might offer a better fit for your personal and financial circumstances. Below, we outline key alternatives, explaining their primary features and how they compare to an IVA.

Bankruptcy

Bankruptcy is often viewed as a last resort because it can involve the sale of assets, including your home if you have significant equity. It typically lasts for one year before discharge, but its effects on credit and employment can be profound. For those with few assets and large debts, it can offer a quick resolution.

Debt Relief Order (DRO)

A DRO suits individuals with very low income, minimal assets, and debts below a certain threshold (currently £30,000 in England and Wales, though it can vary). It’s a cheaper, simpler alternative to bankruptcy for those who qualify, but any improvement in your finances during the 12-month moratorium could lead to the DRO’s revocation.

Debt Management Plan (DMP)

A DMP is an informal agreement with creditors, typically arranged through a charity or debt management company. You pay a reduced monthly amount until the debt is settled. Unlike an IVA, a DMP doesn’t offer legal protection from creditors; they can still pursue legal action or add interest unless they agree to freeze it.

Administration Order

If you have at least one County Court Judgment (CCJ) and total debts under £5,000, an Administration Order may be available. A court decides on a single monthly payment that covers all debts, and creditors included in the order can’t take further legal action without the court’s permission. This route, however, is less common and limited by debt thresholds.

It’s crucial to compare these solutions with an IVA to decide which best aligns with your objectives. Factors like total debt level, property ownership, and job requirements often influence the decision. In the next section, we’ll explore the process of concluding an IVA, whether by successful completion or otherwise, and what that outcome means for your financial future.

Ending an IVA

All IVAs reach a conclusion, either through successful completion or premature termination. Understanding what happens at the end of an IVA can help you remain focused on meeting the terms—or be prepared for other scenarios if circumstances change drastically.

Successful completion

If you keep up with your monthly payments and fulfil all obligations, you’ll reach the end of your IVA term—usually five or six years. At this point:

• Final review: Your IP checks that you’ve met every requirement, including any equity release attempts if you own property.

• Completion Certificate: This document officially confirms you’ve completed the IVA. Your debts included in the arrangement are considered settled, and any remaining balance is written off.

• Credit file: The IVA will remain on your credit file for six years from the start date. If your IVA runs for five years, there may be a short overlap period. Once the six-year mark passes, the IVA record should drop off.

Early completion

Sometimes, you can finish your IVA ahead of schedule—for example, if you receive a windfall (like an inheritance) large enough to pay the creditors a final lump sum. You’d propose a ‘full and final’ settlement, and if creditors accept, your IVA ends early. You’ll still receive a Completion Certificate, with any remaining debt included in the IVA written off.

Failure or termination

An IVA can fail if you:

• Miss multiple payments without agreement or a variation.

• Breach essential terms (e.g., conceal a significant pay rise or new debt).

• Do not cooperate with your IP (for instance, refusing annual reviews).

If the IVA terminates, you lose its legal protections, allowing creditors to resume pursuit of debts. This can lead to further legal action or, in some cases, bankruptcy.

Post-IVA considerations

• Keep your paperwork: Store your Completion Certificate and any final statements. These can help if creditors incorrectly contact you for further payments on settled debts.

• Credit-building strategies: Once the IVA is complete, you can take steps to improve your credit file—such as ensuring you’re on the electoral roll and using credit responsibly if needed.

• Future mortgage applications: An IVA can affect mortgage eligibility, but some lenders may consider applicants after a few years of responsible financial conduct post-IVA.

Knowing how an IVA concludes gives you a clearer destination to aim for if you’re currently deciding whether to proceed. The next section, ‘Life after an IVA,’ expands on how to rebuild your financial standing and maintain good habits once you’ve achieved completion.

Life after an IVA

Emerging from an IVA is a significant milestone. Whether you completed the full term or concluded early with a lump-sum offer, you now have the freedom to shape your financial future without the burden of persistent unsecured debts. Nonetheless, it’s important to recognise that an IVA leaves lasting footprints on your credit file and financial habits. This section addresses the practical and emotional steps to take once your IVA is done.

Rebuilding your credit

• Check your credit report: Obtain copies from major agencies (Experian, Equifax, and TransUnion). Ensure your IVA is marked as completed and that debts included in the IVA show zero or partial balances.

• Register on the electoral roll: Lenders see this as proof of stability, which can help your credit score.

• Consider low-limit credit cards: If you opt for new credit, use it sparingly and repay in full each month to demonstrate responsible borrowing.

Lifestyle and budgeting

The discipline you practised during your IVA can serve you well in day-to-day life:

• Maintain a monthly budget: Keep tracking expenses to avoid slipping back into debt.

• Emergency savings: Even setting aside a small amount each month builds a cushion for unexpected costs.

• Review your insurance and benefits: Ensure you have the right cover and that you’re receiving any benefits to which you’re entitled.

Mortgage and lending prospects

While your IVA remains on your credit file for six years from its start date, some lenders may consider applications sooner if you can demonstrate financial stability since completion. Interest rates might initially be higher, so it can be wise to wait until your credit record improves.

Emotional well-being

Debt can take a toll on your mental health, and completing an IVA often brings relief alongside lingering caution. You might worry about sliding back into debt or find it challenging to trust yourself with credit again. Speaking to a counsellor or financial advisor can help you strike a balance between cautious budgeting and enjoying your financial freedom responsibly.

Staying vigilant

• Monitor for creditor errors: On rare occasions, creditors might still contact you for payments after the IVA is concluded. Always provide your Completion Certificate and, if needed, inform your IP or seek legal advice.

• Protect against scams: Once your credit record improves, remain cautious about unsolicited loan or credit card offers.

Life after an IVA is an opportunity to reset your financial foundations. The disciplined habits you honed during the arrangement can serve as valuable tools for maintaining stability and working toward future goals—be it buying a home, saving for retirement, or simply enjoying peace of mind. Next, we’ll conclude this guide with a brief summary of the key points to remember, followed by a list of frequently asked questions.

Conclusion

An Individual Voluntary Arrangement (IVA) can offer a viable pathway for individuals in the UK facing unmanageable levels of unsecured debt. It consolidates debt into a single monthly payment, freezes interest, and gives you legal protection from creditor actions. Over a period of usually five or six years, consistent payments pave the way for a portion of your debt to be written off, ultimately allowing you to emerge with a more stable financial future.

Yet, an IVA isn’t a one-size-fits-all solution. It comes with responsibilities, including the need to maintain strict monthly payments, report changes in income, and potentially release equity if you own property. The fees you pay support the professional oversight of an Insolvency Practitioner (IP), who ensures that the arrangement is both feasible for you and acceptable to creditors.

Weighing the pros and cons helps determine if this route aligns with your personal circumstances. For many, the structured framework is a source of relief and clarity. For others—perhaps those with very low incomes or substantial assets—bankruptcy, a Debt Relief Order, or a Debt Management Plan might be more appropriate. The key is thorough research and professional advice, ensuring you fully understand your choices and their long-term effects.

With the right commitment, an IVA can become a turning point that transitions you from financial insecurity to stability. Once completed, rebuilding your credit and continuing prudent money management can help you make the most of your fresh start. If you still have questions or feel uncertain about any details, explore the Frequently Asked Questions below—or consider speaking directly with an expert for personalised guidance.

Frequently asked questions

Understanding IVAs

What is an IVA?

An Individual Voluntary Arrangement (IVA) is a formal agreement in the UK that helps individuals with unmanageable unsecured debts. It sets up a structured repayment plan over an agreed term—often five to six years—after which any remaining eligible debt is typically written off.

How does an IVA differ from bankruptcy?

Both are formal insolvency solutions, but an IVA generally allows you to keep greater control of your assets, such as your home. Bankruptcy can be quicker (often lasting a year before discharge), but it may involve the sale of assets and carries additional restrictions for the debtor.

Which debts can be included in an IVA?

Most unsecured debts—like credit cards, personal loans, and overdrafts—can be covered in an IVA. Secured debts (for example, mortgages or car finance) cannot be included. Certain other debts, such as student loans and court fines, are also exempt.

Eligibility

Do I need a minimum amount of debt to qualify?

There’s no strict legal minimum, but IVAs typically involve debts of around £6,000 or more. Creditors want to see that the IVA will offer a reasonable return compared to other options, so having a substantial debt level makes an IVA more viable.

Can self-employed individuals get an IVA?

Yes. Self-employed individuals can propose an IVA, provided they have a steady and verifiable income stream to support monthly payments. Detailed financial records and future trading projections may be required.

Is there an upper limit on the amount of debt an IVA can cover?

There’s no formal upper limit. As long as you can demonstrate a feasible repayment plan and the creditors accept it, high levels of unsecured debt can be included in an IVA.

Setting up an IVA

Why do I need an Insolvency Practitioner (IP) to set up an IVA?

Only a licensed IP can propose and manage an IVA. They handle all negotiations with creditors, prepare the necessary documentation, and ensure the arrangement meets legal standards.

How long does it take to get an IVA approved?

Timelines vary but the process often takes between four to eight weeks from your initial consultation to the creditors’ vote. Gathering and verifying documentation can influence how quickly a proposal is ready.

Do I need to attend a creditors’ meeting in person?

Usually no. Creditors’ meetings are often conducted remotely (for example, via phone or email). Your IP represents your proposal to the creditors on your behalf.

Payments and budgeting

How is my monthly payment calculated?

The payment is based on your disposable income: what’s left after paying essential living costs. Your IP works out how much you can realistically afford, ensuring the amount is acceptable to both you and your creditors.

Can I change my IVA payment if my circumstances change?

Yes. If you experience a significant change—such as a pay cut or redundancy—contact your IP immediately. They may arrange a variation meeting with creditors or offer a temporary payment break.

Am I allowed any savings while on an IVA?

You can hold a small contingency fund to cover unexpected costs, but your budget should remain within the limits agreed in your IVA proposal. Larger accumulations may need to be disclosed to your IP and could be used to pay additional debt.

Legal and credit impact

Will creditors stop contacting me after the IVA is approved?

Yes. Once the IVA is active, creditors included in the arrangement must redirect all communication through your IP. They can’t chase you for payments or add extra interest charges on the included debts.

How does an IVA affect my credit score?

An IVA is recorded on your credit file for six years from the date it starts. During this time, securing new credit can be difficult or come with higher interest rates. However, as you progress in the IVA, you can work on rebuilding positive credit habits.

Is my name placed on a public register?

Yes. Approved IVAs in England, Wales, and Northern Ireland are added to the Individual Insolvency Register, which is publicly accessible. However, this is less visible than a bankruptcy listing.

Ending an IVA

What happens when I complete the IVA?

Upon successful completion, you receive a Completion Certificate. Any remaining unsecured debts included in the IVA are written off. Your name is marked as “completed” on the Insolvency Register, and you can begin focusing on rebuilding your credit profile.

Can I finish my IVA early?

Yes. If you receive a windfall or can offer a lump sum that satisfies your creditors, you can propose a full and final settlement. If creditors accept, your IVA ends ahead of schedule.

What leads to an IVA failing?

Missing multiple payments, concealing income, or refusing to comply with the IP’s requests can cause the IVA to fail. When that happens, you lose legal protection, and creditors can resume collection activities or take legal action.

Life after an IVA

How long does it take to rebuild credit after completion?

The IVA remains on your credit file for six years from its start date, even if you complete it sooner. Gradually, by using credit responsibly—e.g., making on-time payments on any new account—you can improve your credit score over time.

Is homeownership possible once the IVA is finished?

Yes. Some lenders might be hesitant, but others are willing to consider post-IVA mortgage applications, especially if you can show responsible financial conduct. You might initially face higher interest rates, but these can improve as your credit file recovers.

Are there any future restrictions on opening bank accounts?

Once your IVA is completed, you typically regain freedom to manage your banking as you wish. Some high-street banks may require evidence of your completion, but many providers will simply treat you as a standard customer if your financial history has improved.

Other considerations

What if my circumstances improve during the IVA?

You’re required to inform your IP about any significant increases in income, such as a pay rise or a bonus. Your monthly payments may be adjusted to ensure creditors receive a fair share of your improved financial situation.

Can creditors remove themselves from the IVA once it starts?

No. When the IVA is approved by creditors holding at least 75% of the total value of debts that voted, it becomes binding for all creditors included in the proposal. A creditor can’t choose to opt out later.

What if a creditor tries to collect more money after the IVA is in place?

Refer them to your IP. Once an IVA is established, all covered creditors must adhere to its terms. Any additional demands or attempts to collect must go through the IP for resolution.

Still have questions?

If, after reading this guide, you feel uncertain about any aspect of IVAs—or your specific financial situation isn’t fully addressed—consider speaking with an expert for personalised advice. Professional input can be especially helpful if your circumstances involve complex factors like multiple income sources, shared assets, or previous insolvency arrangements. An expert can clarify how an IVA would operate in your unique context, help you compare alternatives, and provide the reassurance you need to move forward with confidence.

Glossary

Additional income

Any extra earnings you receive on top of your regular salary or wages, such as bonuses, overtime, or part-time work. In an IVA, you must report significant additional income to your Insolvency Practitioner, as your monthly payment may be adjusted accordingly.

Annual review

A yearly check performed by your Insolvency Practitioner to ensure your Individual Voluntary Arrangement is still affordable for you and fair for creditors. You usually provide up-to-date income and expenditure information to confirm or amend your monthly payment.

Arrears

Outstanding payments that are overdue. If you owe money on secured debts like a mortgage or if you fall behind on bills such as council tax, these are classed as arrears. In an IVA, they can affect your ability to maintain necessary living expenses.

Asset

Any property or item of value you own. Assets can include real estate, vehicles, and valuable possessions. In an IVA, unsecured creditors cannot force you to sell your assets unless your arrangement specifically requires equity release from your home or other possessions.

Bankruptcy

A formal insolvency procedure, typically lasting one year before discharge. It can involve the sale of assets to repay debts. Compared to an IVA, bankruptcy often has a more severe impact on your credit file and may carry tighter restrictions on your financial affairs.

Completion Certificate

A document issued by your Insolvency Practitioner once you have met all obligations under an IVA. It confirms successful completion and indicates that any remaining unsecured debt included in the arrangement is effectively written off.

Contingency fund

A small savings pot you set aside for unexpected costs, such as minor car repairs or emergency bills. Having a contingency fund within your IVA budget can help prevent missed payments due to unforeseen expenses.

County Court Judgment (CCJ)

A court order in England and Wales that can be made against you if you fail to repay money you owe. While an IVA provides protection from most legal actions once approved, existing CCJs are still recorded on your credit file but are generally bound by the IVA terms.

Creditor

Any organisation or individual to whom you owe money. In an IVA, unsecured creditors typically vote on whether to accept your proposal and, if successful, must abide by its terms for the duration of the agreement.

Credit file

A record held by credit reference agencies detailing your credit history, including loans, credit cards, and insolvency actions. An IVA remains on your credit file for six years from the start date, potentially affecting your ability to borrow.

Debt Management Plan (DMP)

An informal arrangement with creditors to repay unsecured debts at a reduced monthly amount. Unlike an IVA, a DMP is not legally binding, and creditors may still pursue legal action or add interest if they choose.

Debt Relief Order (DRO)

A formal insolvency solution in England and Wales for individuals with low income and minimal assets. Debts typically remain frozen for 12 months and are written off if your circumstances do not improve. A DRO can be an alternative to an IVA for those with smaller debts.

Default notice

An official letter from a lender indicating you’ve broken the terms of a credit agreement. A default notice can lead to further actions, such as a County Court Judgment. In an IVA, defaults are accounted for in the proposal to creditors.

Disposable income

The money you have left each month after deducting essential living expenses like rent, food, and utilities. Your IVA payment is based on your disposable income, ensuring you only commit what you can realistically afford.

Equity

The difference between the market value of a property and any outstanding secured debts, such as a mortgage. If you own a home and have substantial equity, you may be asked to release some of it during an IVA—usually through a remortgage—to increase the amount paid to creditors.

Equity release

A process of withdrawing available equity in your home, often by remortgaging or securing a new loan against it. In an IVA, equity release may be required in the final year to maximise repayments to creditors, provided the terms are fair and you can secure a lender.

Essential expenditure

Core monthly expenses that cover basic living needs. This category includes housing costs, utility bills, groceries, and insurance. Essential expenditure is deducted from your income to determine your IVA payment amount.

Financial Conduct Authority (FCA)

The regulatory body overseeing financial services in the UK. While the FCA does not directly regulate Insolvency Practitioners, it does regulate consumer credit providers, ensuring fair and transparent practices for borrowers and creditors alike.

Full and final settlement

A lump-sum payment offered to creditors in exchange for settling your debts in an IVA earlier than planned. If creditors accept this settlement, the IVA can finish before the agreed term, and you receive your Completion Certificate once the funds are distributed.

Harassment

Repeated, unreasonable contact from creditors or debt collectors can amount to harassment. An IVA provides legal protection from this behaviour; once approved, creditors must direct any communication to your Insolvency Practitioner.

HMRC

Her Majesty’s Revenue & Customs, responsible for collecting taxes in the UK. While some taxes and penalties can be included in an IVA, HMRC will assess the proposal alongside other creditors.

Income and expenditure

A detailed summary of your monthly earnings and essential expenses. This forms the basis of your IVA proposal, ensuring your monthly contribution is both affordable and fair to creditors.

Insolvency

A financial state where your debts exceed your assets, or you cannot meet payment obligations when they fall due. An IVA is one form of insolvency solution, designed to help manage and potentially write off debts.

Insolvency Practitioner (IP)

A licensed professional authorised to manage formal insolvency procedures, including IVAs. They act as a liaison between you and your creditors, draft proposals, and oversee the day-to-day running of the arrangement.

Insolvency Register

A public record maintained by the Insolvency Service, listing individuals who have entered into formal insolvency proceedings like an IVA, DRO, or bankruptcy. Your name appears on the register once your IVA is approved.

Insolvency Service

A UK government agency regulating insolvency laws and procedures. It oversees the public registers for IVAs and bankruptcies, provides guidelines for Insolvency Practitioners, and can investigate cases of insolvency misconduct.

Interest

The additional cost charged on borrowed money. When an IVA is approved, most creditors agree to freeze or significantly reduce interest charges on the debts included in the arrangement.

Joint debt

A debt that is legally owed by more than one person. In an IVA, both parties are responsible unless the other debtor enters their own arrangement or the debt is otherwise addressed. One person’s IVA does not automatically cover a joint borrower.

Legal protection

The safeguarding you gain once your IVA is approved, preventing creditors from taking further legal action against you for included debts. This protection is upheld so long as you continue to meet your IVA obligations.

Liquidation

A process that applies to companies, not individuals, in which a firm’s assets are sold to pay off creditors. In a personal context, an individual may consider bankruptcy rather than liquidation. However, if you’re a company director with personal debts, an IVA may still be an option for you personally, separate from your business.

Means test

An assessment of your finances—often used in various UK insolvency processes—to determine whether you qualify for certain solutions. It looks at your income, assets, and debt levels. While there’s no strict “means test” for IVAs, you must show sufficient disposable income.

Nominee’s fee

The charge covering the setup of your IVA. It pays for the Insolvency Practitioner’s work in drafting and presenting the proposal to creditors. Typically, it’s deducted from your monthly payments once the IVA begins.

Official Receiver

A government officer who deals with bankruptcies and some compulsory liquidations. The Official Receiver is not directly involved in IVAs but may become relevant if an IVA fails or if you transition to bankruptcy.

Payment break

A temporary pause in monthly IVA payments, typically requested when you experience an emergency or a significant drop in income. It must be agreed with your Insolvency Practitioner and, in some cases, approved by creditors.

Priority debts

Obligations that carry serious consequences if unpaid, including mortgage or rent arrears, council tax, and utility bills. Although IVAs focus on unsecured debts, you must still keep up priority debt repayments to avoid risks like eviction or disconnection.

Proposal

The formal document prepared by your Insolvency Practitioner outlining how you’ll repay creditors within an IVA. It specifies the duration of the arrangement, monthly payment amounts, and any other conditions (such as equity release).

Secured debt

Money owed that is tied to an asset—commonly a mortgage or vehicle finance. Secured debts cannot be included in an IVA, so you must continue making these payments separately to avoid repossession of the asset.

Supervisor’s fee

A charge covering the ongoing administration of the IVA throughout its term. It typically includes distributing your monthly payment to creditors, conducting annual reviews, and managing any required variations.

Unsecured debt

Debt not tied to an asset, such as credit cards, personal loans, or overdrafts. These are typically the only debts covered by an IVA, given that secured creditors can recover the asset if payments aren’t made.

Variation

A formal amendment to your IVA if circumstances change—such as loss of income or increased living costs. Your Insolvency Practitioner will present the new terms to creditors, who vote on whether to accept the changes.

Windfall

A lump-sum gain you weren’t expecting, for example, an inheritance or lottery winnings. During an IVA, you may be required to pay some or all of a windfall into the arrangement to increase returns to creditors.

Useful Organisations

Citizens Advice

Citizens Advice is a nationwide service offering free, independent, and confidential guidance on a range of topics, including debt, benefits, housing, and employment. Their advisers can help you understand your options and support you in navigating various financial challenges.

• 0800 144 8848

• www.citizensadvice.org.uk

StepChange

StepChange is a leading UK debt charity providing tailored support for individuals struggling with money problems. They offer expert advice on different debt solutions, including IVAs, bankruptcy, and debt management plans.

• 0800 138 1111

• www.stepchange.org

MoneyHelper

MoneyHelper is a government-backed service that delivers free and impartial financial guidance. Their resources cover money management, budgeting, and specialist advice on debt solutions to help you make informed decisions.

• 0800 011 3797

• www.moneyhelper.org.uk

Insolvency Service

The Insolvency Service is a government agency that regulates insolvency matters in England, Wales, and Northern Ireland. It oversees public registers for bankruptcies and IVAs, and provides official guidance on insolvency procedures.

• 0300 678 0015

• www.gov.uk/government/organisations/insolvency-service

All references

Citizens Advice (2023) ‘IVAs explained’. Citizens Advice.
https://www.citizensadvice.org.uk/debt-and-money/help-with-debt/individual-voluntary-arrangements/

Experian (2023) ‘Improving your credit score’. Experian.
https://www.experian.co.uk/consumer/improving-your-credit-score.html

GOV.UK (2023) ‘Plan to pay your debts’. GOV.UK.
https://www.gov.uk/options-for-paying-off-your-debts

Insolvency Act 1986 (c. 45). London: HMSO.

Insolvency Service (2023) ‘Insolvency guidance’. GOV.UK.
https://www.gov.uk/government/organisations/insolvency-service

IPA (2023) ‘Code of ethics for insolvency practitioners’. Insolvency Practitioners Association.
https://www.insolvency-practitioners.org.uk/

MoneyHelper (2023) ‘Individual voluntary arrangements (IVAs)’. MoneyHelper.
https://www.moneyhelper.org.uk/en/money-troubles/dealing-with-debt/ivas-explained

StepChange (2022) ‘IVA guide’. StepChange.
https://www.stepchange.org/debt-info/iva.aspx

Disclaimer

The information provided in this guide is for general informational purposes only and does not constitute professional dental advice. While the content is prepared and backed by a qualified dentist (the “Author”), neither Clearwise nor the Author shall be held liable for any errors, omissions, or outcomes arising from the use of this information. Every individual’s dental situation is unique, and readers should consult with a qualified dentist for personalised advice and treatment plans.

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